Siemens Gas Turbine HQ Trades for Nearly $18M
July 26, 2012
By: Laurie Forbes

Clay Development & Construction sold the Siemens Gas Turbine Division North American headquarters, a 160,000-square-foot industrial building in Deer Park, TX, to Inland Real Estate Acquisitions Inc. The property traded for approximately $111 per square foot or $17.8 million.

... The company is under a triple-net lease with a remaining lease term of 10 years.

... Built this year, the Class A structure is on 16.5 acres at 405 Deerwood Glen Drive, about 25 minutes east of Houston. It includes 225 parking spaces and additional land that would allow for future expansion of the building, at the request of Siemens and at Siemens’ sole cost, by 65,000 square feet.

... Michael Palmer, Derek Graham and John Simons of Studley were the listing brokers.

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